Bank fixed deposits (FDs) are secure fixed-income instruments which offer guaranteed returns. Unlike stocks and mutual funds, fixed deposits offer assured returns because they are unaffected by market volatility. This makes bank fixed deposits apt for investors who are risk-averse and seek a guaranteed return on their investments. Top lenders such as State Bank of India (SBI), HDFC Bank and ICICI Bank, among others, offer fixed deposits. Customers are required to park their funds until a pre-determined period and then they can earn attractive interest rates on the same.
Bank fixed deposits (FDs) are secure fixed-income instruments which offer guaranteed returns. Unlike stocks and mutual funds, fixed deposits offer assured returns because they are unaffected by market volatility. This makes bank fixed deposits apt for investors who are risk-averse and seek a guaranteed return on their investments. Top lenders such as State Bank of India (SBI), HDFC Bank and ICICI Bank, among others, offer fixed deposits. Customers are required to park their funds until a pre-determined period and then they can earn attractive interest rates on the same.
Banks which have recently hiked FD interest rates
HDFC Bank and Indian Bank raised their fixed deposit interest rates with effect from November 6.
Here are the latest fixed deposit or FD interest rates of SBI, HDFC Bank, ICICI Bank and Indian Bank on deposits below Rs 1 crore:
SBI
HDFC Bank
(Source: hdfcbank.com)
ICICI Bank
Indian Bank
(Source: indianbank.in)
To senior citizens, an additional FD interest rate of 0.50 per cent is offered on amount up to Rs 2 crore, Indian Bank said. The additional rate would be offered on deposits of 15 days to 10 years over the card rate.
FD interest rates are subject to change from time to time.
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